VFH Fees and Costs — Vanguard Financials Index Fund
Data updated: 2026-07-29
The net expense ratio is 0.09%: a 0.08% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $108K in broker commissions, 0.0008% of average net assets, and portfolio turnover was 5%.
VFH Fees and Expenses
Annual operating expenses and sales charges of VFH. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.08% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.09% |
| Fee waiver | — |
| Net expense ratio | 0.09% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
VFH Costs Over Time
On $10,000 invested in VFH, assuming 5% a year before costs, total costs come to $58 over 5 years, cutting the return by 0.10% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.09%) | $9 | $30 | $52 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $1 | $5 |
| Total costs | $10 | $32 | $58 |
| Value after costs | $10,490 | $11,545 | $12,705 |
| Impact on return, per year | 0.10% | 0.10% | 0.10% |
VFH Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0008%
- Total broker commissions: $108K
- Bought from dealers (principal trades, not a cost): $1.7B
- Portfolio turnover (prospectus): 5%
- Securities on loan, average value: $5.9M
- Net income from securities lending: $309K (0.002% of average net assets)
VFH Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| THE GOLDMAN SACHS GROUP, INC. | $52K | 47.99% |
| JPMORGAN CHASE & CO. | $21K | 19.19% |
| CITIGROUP INC. | $14K | 12.98% |
| Mizuho Financial Group, Inc. | $9K | 7.99% |
| MORGAN STANLEY | $5K | 4.48% |
| BANK OF AMERICA CORPORATION | $3K | 2.69% |
| Cowen and Company, LLC | $2K | 2.27% |
| BARCLAYS PLC | $2K | 2.14% |
| WELLS FARGO & COMPANY | $145 | 0.13% |
| Royal Bank of Canada | $143 | 0.13% |
VFH Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Vanguard Market Liquidity Fund | $1.7B | 98.82% |
| MORGAN STANLEY | $9.1M | 0.52% |
| THE GOLDMAN SACHS GROUP, INC. | $6.3M | 0.36% |
| JPMORGAN CHASE & CO. | $5.1M | 0.29% |
| Piper Sandler & Co. | $118K | 0.01% |
Vanguard Financials Index Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VFAIX | Admiral Shares | 0.09% | none |
| VFH | ETF Shares | 0.09% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.